The Carlton Group Closes Largest European Single Asset Discounted Loan Payoff and Recapitalization Deal This Year

NEW YORK--()--The Carlton Group, with offices in Madrid, Milan, Athens and Manhattan, has completed the discounted loan pay-off and recapitalization at the Four Seasons Hotel in Milan.

This transaction, which was the discounted loan pay-off of a €250 million senior loan securing the Four Seasons in Milan, is the largest single-asset closing to occur in Europe this year.

According to Carlton Chairman Howard L. Michaels, this transaction is a harbinger to other discounted loan pay-offs that are expected to occur as financial institutions and borrowers close the delta between the revaluation and marking-to-market of assets, which will reset valuations and ultimately allow the European banking system to return to normal.

Michaels and Carlton have structured and closed over $85 billion in large equity and debt transitions including some of the largest European hospitality transactions, including the Savoy Hotel in London, Ciga Hotel Portfolio in Venice, Milan, Rome and Paris, Claridges Hotel in London, Hotel Danieli in Venice, Le Meurice Hotel in Paris, Connaught Hotel in London and Grand Hotel Plaza in Rome.

Carlton specializes in representing either financial institutions or property owners in the selling of loans or the raising of equity and debt capital to facilitate acquisitions, recapitalizations and partner buyouts.

Additional European transactions that Carlton expects to close quickly:

  • Investment Sale of the Historic Meta-Luxury Hotel Bernina in St. Moritz, Switzerland – Carlton represents the owner of the newly-refurbished, 46-key, four-star boutique Hotel Bernina. The property has seven luxury duplex apartments and views of the breath-taking Alps.
  • £40 Million, High-Yield Financing Sought for Mixed-Use Community and Land Development – Carlton represents the owner of a 1,400-acre, 300-resident community with approximately £4 million of NOI and two million square feet of office, retail, manufacturing and storage space seeking a £36 million financing to recapitalize and provide development financing for this mixed-use directly outside of London.
  • €40 Million, High Yield, Senior Financing Sought for 400-Key, Five-Star, Starwood-Managed Oceanfront Hotel in Croatia
  • €100 Million First Mortgage Secured By Large Croatian Hotel & Apartment Portfolio
  • €250 Million of Sought for the Acquisition of Two Five Star Iberian Hotels – Carlton is the exclusive capital advisor to the purchasers of two five-star hospitality properties in Barcelona and Portugal.

Contacts

Zlokower Company PR
Gail Horowitz, 212-447-9292, ext.13
ghorowitz@zlokower.com

The prestigious Four Seasons Milan Hotel is housed in a restored, former 15th Century convent in Milan, Italy’s Motenapoleone district. (Photo: Business Wire)

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Release Summary

The Carlton Group Closes Largest European Single Asset Discounted Loan Payoff and Recapitalization Deal This Year

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Contacts

Zlokower Company PR
Gail Horowitz, 212-447-9292, ext.13
ghorowitz@zlokower.com